arizona dmv surety bond for title

[billym]

I was given a truck in payment for a debt owed to me. The person giving me the truck for the debt had no title but he bought the truck from the owner and name on the title as listed on record at the California Department of Motor Vehicles. I went to Arizona DMV to register and list myself as the owner of this truck and was told of the following things I must do in order to make myself the owner of record for this vehicle.
1-level one inspection with Arizona DMV just to stisfy Vin on car is same
as vin on applications
2-make contact with the last known owner and any lien holders to notify
them of my intent to register this car and give them a chance to
respond or make claim to this vehicle or any interest due them from the
owner of this vehicle
3-after all this and with the replies, or or lack of, and all liens and interest
are satisfied you go to DMV with the proper forms pay a title and
regisration fee (no different than registering any other vehicle) and post a
Surety Bond in the amount that DMV consideres to be the Fair Market
Value of this vehicle in FAIR condition
Why do I have to post a Surety Bond? I do not understand! For this situation I have a 1984 Ford Ranger and the amount of the surety bond must cover $2325.00. I was told to contact an insurance company to acquire a Surety Bond. Any suggestions?

[Admin]

You are in need of a "lost title bond". A class of business we do not write. Therefore, I can not give you much information on it. I would recommend that you contact your P/C insurance agent to see if they can help. Most companies are not going to have interest in writing such a small bond, as they would likely lose money on doing so. However, a google search might be your best bet if you regular insurance agent can not help.

[Phillies]

The State figures a bond is a good way to protect the public from fraud. Unfortunately, we do not write Lost Title Bonds. I would check with your local insurance agency or your bank - they may be able to help you.